Four Strategies To Turn Regular Customers Into Loyal Ones

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One of the uncommon mental shifts that I’ve had was to stop thinking, as it pertains to my craft, in terms of hourly income but in terms of customers and clients. Getting new customers is great, but you need to learn how to turn them into loyal ones. By continually doing business with you, they boost your income.

Having loyal customers have benefits. It boosts profits; profits go up by 25% to 95% when customer retention rates are increased by only 5%. They have more conversion rates. The average conversion rate of a loyal customer is 60% to 70%, while that of a new one is 5% to 20%.

In addition, loyal customers tend to spend more than first-time customers. With an average order value that increases with the duration they have been doing business with a brand, repeat/loyal customers are said to spend more than first-time customers. And lastly, retaining an existing customer is cheaper than acquiring a new one. According to studies, getting a first-time customer is 5X more expensive than retaining a loyal one.

Here are four strategies I use to turn regular customers into loyal ones.

Begin With Them In Mind

Peter Drucker is the father of modern management, and he argued that the common belief that making profits is the purpose of a…